Credit Acceptance Corp (CACC) legal chief trades 5,720 shares after option exercises
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Credit Acceptance Corp’s Chief Legal Officer Erin J. Kerber reported a mix of option exercises and share sales in company common stock on June 26, 2026. She exercised options for a total of 5,720 shares at exercise prices of $454.11 and $333.94 per share.
On the same date, she sold 5,720 shares in a series of open-market transactions at prices between $625.37 and $634.57 per share. The filing also notes 243 shares held indirectly through the company’s 401(k) Profit Sharing Plan and Trust.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
Net Seller: 5,720 shares ($3,602,474)
Net Sell
13 txns
Insider
KERBER ERIN J
Role
Chief Legal Officer
Sold
5,720 shs ($3.60M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 2,417 | $0.00 | -- |
| Exercise | Employee Stock Option (right to buy) | 3,303 | $0.00 | -- |
| Exercise | Common Stock | 2,417 | $333.94 | $807K |
| Exercise | Common Stock | 3,303 | $454.11 | $1.50M |
| Sale | Common Stock | 397 | $625.37 | $248K |
| Sale | Common Stock | 581 | $627.12 | $364K |
| Sale | Common Stock | 785 | $627.71 | $493K |
| Sale | Common Stock | 1,269 | $628.93 | $798K |
| Sale | Common Stock | 305 | $629.83 | $192K |
| Sale | Common Stock | 1,000 | $631.49 | $631K |
| Sale | Common Stock | 1,143 | $632.63 | $723K |
| Sale | Common Stock | 240 | $634.57 | $152K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 0 shares (Direct, null);
Common Stock — 28,127.7 shares (Direct, null);
Common Stock — 243 shares (Indirect, By 401(k) Trust)
Footnotes (1)
- The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $625.00 to $625.94, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in the footnotes to this Form 4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $626.43 to $627.23, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $627.46 to $628.26, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $628.48 to $629.33, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $629.50 to $630.00, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $630.99 to $631.98, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $632.11 to $633.11, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $634.32 to $634.84, inclusive. Held in the Credit Acceptance Stock Fund of the Credit Acceptance Corporation 401(k) Profit Sharing Plan and Trust as of June 24, 2026, according to the Plan trustee.
Key Figures
Shares sold: 5,720 shares
Sale price range (examples): $625.37–$634.57/share
Options exercised at $454.11: 3,303 shares
+5 more
8 metrics
Shares sold
5,720 shares
Total open-market sales of common stock on June 26, 2026
Sale price range (examples)
$625.37–$634.57/share
Reported weighted-average prices for sale transactions
Options exercised at $454.11
3,303 shares
Employee stock options exercised into common stock
Options exercised at $333.94
2,417 shares
Employee stock options exercised into common stock
Total shares from option exercises
5,720 shares
Non-derivative acquisitions via option exercise on June 26, 2026
Indirect 401(k) holdings
243 shares
Shares held in Credit Acceptance 401(k) Stock Fund as of June 24, 2026
Exercise price (higher grant)
$454.11/share
Conversion price for 3,303-share employee stock option
Exercise price (lower grant)
$333.94/share
Conversion price for 2,417-share employee stock option
Key Terms
open-market sale, Employee Stock Option (right to buy), derivative exercise/conversion, weighted average price, +1 more
5 terms
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
Employee Stock Option (right to buy) financial
"security_title": "Employee Stock Option (right to buy)""
derivative exercise/conversion financial
"transaction_action": "derivative exercise/conversion""
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
401(k) Profit Sharing Plan and Trust financial
"the Credit Acceptance Corporation 401(k) Profit Sharing Plan and Trust as of June 24, 2026"
FAQ
What insider activity did CACC’s Chief Legal Officer report on this Form 4?
Erin J. Kerber reported exercising employee stock options for 5,720 Credit Acceptance Corp common shares and selling 5,720 shares in open-market transactions on June 26, 2026, according to the Form 4 filing’s transaction summary and detail lines.
What stock options did the CACC insider exercise in this filing?
Erin J. Kerber exercised employee stock options covering 3,303 shares at a $454.11 exercise price and 2,417 shares at a $333.94 exercise price, converting those derivative positions into Credit Acceptance common stock on June 26, 2026, as reflected in the non-derivative and derivative tables.